Australian Rental Vacancies Reach 16-year Low as Market Heats up

Australian Rental Vacancies Reach 16-year Low as Market Heats up
A man riding his bike through an empty Cahill expressway in Sydney, Australia on Aug. 14, 2021. Saeed Khan/AFP via Getty Images
Rebecca Zhu
Updated:
The residential rental vacancy rate across Australia has fallen to a 16-year low as the country looks forward to the reopening of its international borders for tourists after two years of isolation.
SQM Research revealed rental vacancy rates fell sharply to 1.3 percent in January, a drop of 0.3 percent from December and 0.7 percent over the year.